[AneroidOcean]

Everyone that is taking so much offense to this list, you do realize that this is just a list of common misconceptions regarding the rich? It's not an absolute "every single rich person thinks THIS way" list.

The responses in here are getting ridiculous. Might as well be posting "nuh uh!"

Try to LEARN something from the list, consider something you hadn't before, find something positive to take from it instead of picking it apart as if it represents itself as some end all and be all of how to become rich.

[billy]

My personal guide to wealth I am not trying to claim that any of this is revolutionary or new I just think this is a better list.


1. Be reliable and honest make sure people can trust to do business with you and not get ripped off.

2. Build up personal relationships with your customers so if you get undercut by a rival people will still rather trade with you or at least give you the chance to match prices.

3. Look for opportunity everywhere, some things may seem small at first but from small acorns big things can grow.

4. Understand that making money is simple, find a service or product at a competitive rate and you then sell it.

5. Brilliant ideas often make a small number of people billions but using existing business models in the right place can often make millions of people wealthy.

6. Get enough of a credit rating so you can use the banks money if beneficial.

7. Be ready to bail and bankrupt yourself while walking away with cash if dramatic market changes ruin your business.

8. Let the pros manage your tax affairs to maximize how much profit you can keep.

9. Don't get too bogged down in small detail if it means you miss the bigger picture.

10. Accept that managing risk is a learning curve, learn what gambles to take and accept that those that fail can often be an important part of learning. Set backs are a valuable lesson do not let the break you.

11. Go into every meeting over prepared.

12. Never ever open a restaurant or bar. (unless you want to run it for the contacts you get.)

13. Charge what ever you can if you have no competition, do not be afraid to maximize profit where possible.

14. Find industries that not a lot of people think about, I have a pal who made good money by testing the white lines down the middle of the road for reflectivity after a new EU ruling saying they had to be tested He got to charge high rates and work in partnership with other people who copied his business model later.


15. Obvious buttering up of the right people can often work better than you think to help win contracts.
always try to make the right people feel important and valued.

16. Be outside in the world not at home playing computer games, most things in my life seem to have started by meeting in bars though this was made easier by owning an upmarket wine bar which meant I got to meet the right kind of people.

[Thatdude]

I think its a great list.

[donslim]

I can only speak really or the wealthy in the UK business community. I'm talking about anyone from £1m -£900m (yes I've met and have worked directly or indirectly with these individuals).

The bulk of people who made it are 1) Usually from v.educated backgrounds (top bachelors degree, top masters, a few PhDs), 2) They are usually from families who are already wealthy in very very traditional industries. Limited numbers will be from new industries i.e consumer internet technology etc.

The idea your education does not matter is laughable. You are better off getting the best education from the most elitist institutions you can get into. Instead of focusing on the studies, make friends and mix in the right circles and focus on getting real world experience alongside your degree. Several peers of mine all spent their spare hours at Universities working for hedge funds, prestigious media organizations etc and left and walked straight into very nicely paid jobs and bounced several years into doing their own thing after raising a decent round of investor capital.

Also, investment bankers (M&A, DCM/ECM etc). Believe me these people are NOT happy doing what they do, they don't live any better, most do not get any time at all to enjoy their cash at all, leave work at god knows what hours, maybe get a bite to eat and then go straight to bed and repeat the same routine. I went to a target school in the UK where the bulk of graduates end up on Wall Street.

The only people on Wall Street I've seen who are happy are 1) Traders/Sales people (you can be on £200-300k at 26 if you are very good, more if you are outstanding) or 2) The older cats 35-45 year olds who have done it for 20 years and accumulated enough to 'slow down.'

I can count well over 100 people on my Facebook alone working in Front Office in the City although the number seems to be going down post-2008 and with most of the savviest cats quitting to start a business and capture more of the upside. So I've got a v. good idea about how 'happy' these people are.

[Teedub]

Read Arnie's book - he espouses pretty much everything on this list.

[Chrysalis]

(03-22-2013 02:41 AM)Hooligan Harry Wrote:  

R

Its a selfish, simple minded perspective that has zero understanding of industry and trade.


...

Real risk is not financial, its personal. It encompasses everything. Its putting your entire network on the line. Going so deep into something that you risk credit ratings, personal health, relationships as you fall of the radar. Chasing something with no certainty of reward at all. While everyone else is buying homes, having families, going on holiday or enjoying their weekends off, you are working without any certainty of success at all. You whole life comes to a standstill and you could lose 2-3 years of your life for nothing. Some guys go over a decade.

That is risk. 99% of the people you come across will not have the balls to take risks like this.

...

See, this is it. If the risk is present, and in this magnitude, the world should be littered with people who tried to be rich, failed and now have no money, health, fair chance, friends. I know of no such examples. Also, if the primary risk isn't financial, we should have lots of rich kids who failed and now are rejects. Once again, I know of no such examples.

I do know of examples of filmmakers who got silenced and bought to not interfere with Hollywood; Of great songs that didn't get backed up by six figures to a studio, so that the six month window from making a song until it becomes a hit passed. Macarena was such a song, that somehow resurfaced decades after the inception, almost all others got forgotten. I know of great startups that got choked from established companies early on. Sportists of great talent that didn't get to play big time because of petty politics. And so on... the legitimate successes that fizzled away precisely because of effects that "lazy envious bums" emphasise.

It does seem like there is a barrier to becoming rich, and these rules or observations mean nothing if you didn't cross it. Also, notice there are no rules on how to cross it.

[JayJuanGee]

These articles about rich people thinking differently can be quite annoying, even when there is some truth to innovative success stories.

There is a myth that is perpetuated that everyone can get rich so long as he puts enough effort into it... or anyone can be president, so long as he focuses on the goal.

Retrospectively, we can look at a variety of rags to riches stories and see that there was a combination of luck and/or ambition.

Being born in a 1st world country provides a lot of opportunities (maybe call it luck); also being born to parents of the 1% also give a lot of advantages (call that luck). Sometimes guys squander the advantages that he is born into; however, a guy born to riches, can screw up a lot more and get away with the screw ups, as compared with a black kid from the ghetto. Wasn't George Bush a drunk of sorts, and that did not stop him from becoming president, and now, i am sure he is rich.. or remains rich.

A black kid in the ghetto may have a chance of getting ahead in life.. that is true... and he may end up in jail or killed a lot easier than Bill Gates... or whatever other anecdotal rags to riches story that guys want to tell in order to perpetuate this myth that anyone can get ahead with enough ambition and the right state of mind.

(03-19-2013 02:02 AM)Prophylaxis Wrote:  

9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.

"That's why people like Donald Trump go from millionaire to nine billion dollars in debt and come back richer than ever," he writes.

"While the masses are fixated on the doing and the immediate results of their actions, the great ones are learning and growing from every experience, whether it's a success or a failure, knowing their true reward is becoming a human success machine that eventually produces outstanding results."

Also, the above section on Donald Trump is a bit of bullshit - stating that Trump went from millionaire to broke to billionaire. First of all, Trump started off with resources b/c of his parents, then when he had gone broke, supposedly, he was already well leveraged in multiple properties at that time. I would hardly endorse Trump as an example of rags to riches or an example of a mindset that allows for the millionaire to be a millionaire even when he goes to rags....

[Beyond Borders]

(10-09-2013 04:11 PM)JayJuanGee Wrote:  

These articles about rich people thinking differently can be quite annoying, even when there is some truth to innovative success stories.

There is a myth that is perpetuated that everyone can get rich so long as he puts enough effort into it... or anyone can be president, so long as he focuses on the goal.

Retrospectively, we can look at a variety of rags to riches story and see that there was a combination of luck and ambition.

Being born in a 1st world country provides a lot of opportunities; also being born to parents of the 1% also give a lot of advantages. Sometimes people squander those advantages; however, someone born to riches, can screw up a lot more and get away with it, as compared with a black kid from the ghetto - who may end up in jail or killed a lot easier than bill gates... or whatever other anecdotal rags to riches story that guys want to tell in order to perpetuate the myth.

Yeah, but I think if someone makes the right moves and builds the right habits, they can expect to get rich. Sure, Bill Gates rich is a huge long shot that requires a healthy dose of luck, but building some degree of success in life is not beyond reach of most people.

And the habits advised to get you there seem to have been repeated over and over again throughout literary history. A glance of this particular list doesn't impress me a bunch but I don't think articles about rich people thinking different are far off at all.

Poor people have bad and good luck as well. But because of the way they think, work, and live, they'll end up poor either way. They don't know how to manage their luck, or their opportunities. This is why low-class lotto winners end up worse off than they were before they got rich and eventually lose it all.

A person with the right mindset, on the other hand, will either end up getting lucky and obscenely rich or, more likely, still end up very well off even if "luck" doesn't favor them. Only the most unlucky of them will end up poor. Just look at how many famous rich guys have lost it all - many of them doing it over and over again - only to get rich again.

There's a formula for wealth.

Note: All of this is my humble, inexperienced opinion, as I'm not rich.

[JayJuanGee]

(10-09-2013 04:22 PM)Beyond Borders Wrote:  

Yeah, but I think if someone makes the right moves and builds the right habits, they can expect to get rich. Sure, Bill Gates rich is a huge long shot that requires a healthy dose of luck, but building some degree of success in life is not beyond reach of most people.

And the habits advised to get you there seem to have been repeated over and over again throughout literary history. A glance of this particular list doesn't impress me a bunch but I don't think articles about rich people thinking different are far off at all.

Poor people have bad and good luck as well. But because of the way they think, work, and live, they'll end up poor either way because of the way they manage their luck, or their opportunities. This is why low-class lotto winners end up worse than they were before they got rich and eventually lose it all.

A person with the right mindset, on the other hand, will either end up getting lucky and obscenely rich or, more likely, still end up very well off even if "luck" doesn't favor them. Only the most unlucky of them will end up poor. Just look at how many rich people have lost it all, through bad luck or poor choices on their path to maturity - many of them doing it over and over again - only to get rich again.

BB:

I am irritated by the simplicity of OP's article, in part b/c there is some truth to any myth - including the myth perpetuated by OP's cited article.

Like an earlier poster stated, there may be 1/3 of the ideas in the article that are true, 1/3 NOT true and another 1/3 that we cannot determine whether true or NOT true.

I am NOT a nay sayer in the possibility of social mobility and success coming from a guy's ability to be organized and having goals and ambitions in life. OP's article merely serves too much as a simplification of the situation and an attempt to pat rich people on the back while denigrating less rich people (which another poster in this thread had stated), which also i find irritating.

(10-09-2013 04:22 PM)Beyond Borders Wrote:  

There's a formula for wealth.

Your asserting that there is a formula for wealth is like suggesting that if a guy does X, Y and Z, he should automatically get A results (absent some bad luck). Surely, there are habits of successful people that likely fall into a pattern that will likely bring good results, and I am NOT disputing that. Billy, in post 77 in this thread, pointed out some good strategies and conduct that would likely cause many guys to be successful, and those suggestions are NOT filled with empty pats on the back for the rich and further statements to denigrate poor people as deserving their fate.

(10-09-2013 04:22 PM)Beyond Borders Wrote:  

Note: All of this is my humble, inexperienced opinion, as I'm not rich.

I doubt that we have to experience being rich to have other life experiences that inform us about how guys may or may NOT become rich.. or to explain distribution of wealth amongst people. Surely, there would be some experiences that "rich" people could describe that a non-rich person may not be able to describe, but that should not eliminate the non-rich person from being able to provide meaningful contributions to the discussion.

Definition of rich, also, may cause for differing conclusions about values that people have that may not be centered around money richness.

As we have discussed in other threads, if a guy can have enough passive income to be able to satisfactorily live within those means, then that guy could be considered to be rich b/c he is choosing whether or not to engage in extra work to supplement his passive income. Some guys could create enough passive income with $300K to be satisfied with a $1,000 per month passive income, and other guys may need $20Million in order to support the lifestyle that he wants to attain (with a $60K per month passive income). If a guy attains his goal of having sufficient income and not having to work, and is able to live the life that he wants within that income goal, then he may be considered as rich, but not necessarily fit the mythical definition of rich or even of having a rich mindset, as described in the OP's article.

Personally, and currently, I have projected that I need about $4,000 per month of passive income (which is about 1.2 million in principle). I use 3k for living and 1k to keep investing and/or save for a rainy day - since I am only in my 40s, and a lot can happen between now and death (especially given politicians seem like they want to screw up the whole system of the dollar's value, which would screw up my plans).

Anyhow, the quantity of passive income that I need to feel comfortable is my choice, which definitely others are going to come to different conclusions about how much they believe that they need in order to feel "rich."

[scandibro]

The older I get (and Im only early thirties) the less I can stand some of the viewpoints of jealous, unaware liberals. I could never associate with people so utterly clueless about the real world. I have no clue what they're doing on a so called redpill community.

[JayJuanGee]

(10-09-2013 10:08 PM)scandibro Wrote:  

The older I get (and Im only early thirties) the less I can stand some of the viewpoints of jealous, unaware liberals. I could never associate with people so utterly clueless about the real world. I have no clue what they're doing on a so called redpill community.

Are you referring to anyone in particular or just in theory?

[Prophylaxis]

(10-09-2013 05:15 PM)JayJuanGee Wrote:  

if a guy can have enough passive income to be able to satisfactorily live within those means, then that guy could be considered to be rich b/c he is choosing whether or not to engage in extra work to supplement his passive income.

I agree with this. However, I'm curious, where in the article did it say you had to have X assets to be considered rich? The example you gave would certainly belong in the 'rich' category. The term 'rich' in the article can be applied beyond monetary terms.

Yes the article is simplistic and the world is not black and white - but the article does a good job of de-bunking certain myths when it comes to making money and changing your mindset. It is written this way intentionally to reach a wider audience.

[JayJuanGee]

(10-11-2013 04:46 PM)Prophylaxis Wrote:  

(10-09-2013 05:15 PM)JayJuanGee Wrote:  

if a guy can have enough passive income to be able to satisfactorily live within those means, then that guy could be considered to be rich b/c he is choosing whether or not to engage in extra work to supplement his passive income.

I agree with this. However, I'm curious, where in the article did it say you had to have X assets to be considered rich? The example you gave would certainly belong in the 'rich' category. The term 'rich' in the article can be applied beyond monetary terms.

Yes the article is simplistic and the world is not black and white - but the article does a good job of de-bunking certain myths when it comes to making money and changing your mindset. It is written this way intentionally to reach a wider audience.

Prophylaxis:
I have no major disagreement with any of the points of your above post, and accordingly, I believe that guys can obtain benefits from OP's article in various ways, especially if guys are considering richness in terms of monetary wealth.

Nonetheless, I maintain my assertion that oversimplifications within the article are unnecessarily vindictive and judgmental towards people without monetary worth.

Accordingly, b/c the article does NOT define what is rich and what is poor, it creates artificial framework around concepts of money which implies that being rich is connected with a certain quantity of money (and you are correct, the article does NOT specifically say how much money it would take to be considered rich).

(10-09-2013 05:15 PM)JayJuanGee Wrote:  

Some guys could create enough passive income with $300K to be satisfied with a $1,000 per month passive income....

In the above-quoted section of my previous post, I was attempting to be somewhat concrete by giving examples of ranges of passive income that may be considered monetarily "rich," and in that regard, I had asserted that a guy with passive income of as LOW as $1,000 per month may be considered rich - which I suggested that $300K in capital could fairly assuredly cause a sufficient income stream for $1K per month passive income.

Even though I did NOT go beyond describing passive income in my previous post, I could have gone on to define rich to even applying to guys who "have to" work for income - b/c in some circumstances, the work that a guy chooses is clearly being carried out by free choice rather than by coercion, and there is a certain richness in having free choice.

Accordingly, we could go on and on to describe variations of "free choice" in order to attempt to determine whether certain guys are rich or not.... which does not necessarily tie into concepts of how much money the guy is earning or his monetary quantity of assets.

Surely, the article will have some resonance with the vision of the world of some guys, and I happen to NOT be one of those guys who resonate with the points of the article.

[Menace]

I haven't read any of the thread, but I'd say one big diff when you have money (not necessarily rich) vs. when you don't, is that you don't think twice about spending in order to make things go smoothly or to save time. For example, wasting time looking for parking when you can just pay $20 and park in a garage.

[Beyond Borders]

(10-09-2013 05:15 PM)JayJuanGee Wrote:  

(10-09-2013 04:22 PM)Beyond Borders Wrote:  

There's a formula for wealth.

Your asserting that there is a formula for wealth is like suggesting that if a guy does X, Y and Z, he should automatically get A results (absent some bad luck). Surely, there are habits of successful people that likely fall into a pattern that will likely bring good results, and I am NOT disputing that. Billy, in post 77 in this thread, pointed out some good strategies and conduct that would likely cause many guys to be successful, and those suggestions are NOT filled with empty pats on the back for the rich and further statements to denigrate poor people as deserving their fate.

I may have oversimplified and overstated my case by saying there is a "formula for wealth." I do think that if the right patterns are followed, however, the chance of significant wealth and/or riches are VERY much in your favor. I think that many people who fail when it seems they are doing all the right things are probably not doing all the right things after all and may not be being honest with themselves. I'm a big believer in successful habits and especially books like "Think and Grow Rich," which, contrary to popular belief, is not just about positive thinking. Daily listening to a condensed version of that book in my truck every day in my mid-20s brought me some pretty substantial success and radically transformed my life.

Maybe I should go grab a new copy.

The "formula" may not be as scientific as to be set in stone, but I'm enough of an optimist that I believe 85% of the time, if not even 90%+, the right habits and mindset will bring you success. Maybe not in a linear fashion, as you'll go through the same ups and downs as everyone else, but if you pick yourself up from failures and stay the course you'll eventually get there in the end.

I do agree this list was lacking though. I think for the most part we're on the same page with these issues, even if it seems we disagree.

(10-09-2013 05:15 PM)JayJuanGee Wrote:  

(10-09-2013 04:22 PM)Beyond Borders Wrote:  

Note: All of this is my humble, inexperienced opinion, as I'm not rich.

I doubt that we have to experience being rich to have other life experiences that inform us about how guys may or may NOT become rich.. or to explain distribution of wealth amongst people. Surely, there would be some experiences that "rich" people could describe that a non-rich person may not be able to describe, but that should not eliminate the non-rich person from being able to provide meaningful contributions to the discussion.

Sure. Which is why I even bothered chipping in with my opinion. But I also think that people who actually are rich know a lot more about what it takes than I do. Hence my disclaimer...

Quote:

Definition of rich, also, may cause for differing conclusions about values that people have that may not be centered around money richness.

As we have discussed in other threads, if a guy can have enough passive income to be able to satisfactorily live within those means, then that guy could be considered to be rich b/c he is choosing whether or not to engage in extra work to supplement his passive income. Some guys could create enough passive income with $300K to be satisfied with a $1,000 per month passive income, and other guys may need $20Million in order to support the lifestyle that he wants to attain (with a $60K per month passive income). If a guy attains his goal of having sufficient income and not having to work, and is able to live the life that he wants within that income goal, then he may be considered as rich, but not necessarily fit the mythical definition of rich or even of having a rich mindset, as described in the OP's article.

Personally, and currently, I have projected that I need about $4,000 per month of passive income (which is about 1.2 million in principle). I use 3k for living and 1k to keep investing and/or save for a rainy day - since I am only in my 40s, and a lot can happen between now and death (especially given politicians seem like they want to screw up the whole system of the dollar's value, which would screw up my plans).

Anyhow, the quantity of passive income that I need to feel comfortable is my choice, which definitely others are going to come to different conclusions about how much they believe that they need in order to feel "rich."

Fair enough. But I would also say that on many levels the skills, mindset, and habits used to get rich are the same ones needed to save enough money to generate a passive income of $4000 (or $1000) a month, gain control of your endless thirst for material goods, and then live comfortably within those means for the rest of your life. Just implemented on a different degree and with a different set of priorities. Neither are easy, that's for sure.

[scandibro]

(10-09-2013 10:57 PM)JayJuanGee Wrote:  

(10-09-2013 10:08 PM)scandibro Wrote:  

The older I get (and Im only early thirties) the less I can stand some of the viewpoints of jealous, unaware liberals. I could never associate with people so utterly clueless about the real world. I have no clue what they're doing on a so called redpill community.

Are you referring to anyone in particular or just in theory?

First, I am trying not to get too involved in political discussions here, because imo this forum mainly has value in its datasheets, high number of international entrepreneurs, digital nomads and intercultural dating and game advice. That is the only thing separating this forum from countless others about pua, weightlifting, online marketing etc.

So I will try to be polite, even though liberal ignorance makes me rage on a low burn.

Yes, you are one of the names I have seen in these political debates along with some others and it suprises me a lot. I am not calling you jealous though, likely just college unaware and young (I hope!).

For people who like to talk a lot about hamster rationalization and feminists making excuses for their own failure, it boggles me how many use the exact same thinking in regards to politics.

You are simply not seeing the world for what it is and behind all the elaborate writing, I fundamentally only see excuses and rationalizations for not daring to face the harsh realities of the real world.

The world and human life is one big competition, but this is where we differ. I do not see that as something evil. I see it as liberating and enjoyable. Where liberals see competition as devolving into selfishness, I see the harsh realities of competition as the seed for voluntary co-operation. I enjoy the ingenuity, the drive, the creativity that comes from competition and desire to win.

"It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest." - Adam Smith

All the great things we enjoy in life from iPhones, to great food, to easy airline travel, all of it came around due to selfish ambition.

I could tell you a real sob story about how I pulled myself from living on a friends couch, with mentally ill relatives and a recently deceased mother, plus massive debt, to reasonable financial security, location independence and freedom within 3 years. Working a job, studying and trying to start a business at the same time. Living in a 20sqm dump in a ghetto while doing so. But would you listen? I know what is possible. I also know that most people have no concept of temporary sacrifice or delaying of gratification and that is why they never 'make it' in whatever field they are in.

And while trying to make this reality come true for myself, I wanted to quit, really wanted to quite at least 10 times, and I can't count how many times people told me I was chasing a pipe dream and should just get a job or that it wasn't realistic.

[JayJuanGee]

(10-14-2013 12:38 PM)scandibro Wrote:  

Yes, you are one of the names I have seen in these political debates along with some others and it suprises me a lot.

So, are you talking about my posts in this thread or another thread? If it goes beyond the thread, then maybe we should exchange some PMs.

Additionally, it would be much easier for me to have a discussion about why I said whatever it is that I said when I know what it is, and in this thread, I thought that i was commenting about what I perceived to be various weaknesses of points made in OP's article.

(10-14-2013 12:38 PM)scandibro Wrote:  

I am not calling you jealous though, likely just college unaware and young (I hope!).

Surely, the level of my education and my experiences may be relevant to points that I made, which may cause me to view things differently and to make points differently from someone else. If you disagree with all of my points that is fine b/c we each have our viewpoints, yet it seems that you are just disagreeing overall to my ideology.. which is a little more difficult to figure out which aspects of my ideology are relevant to points that i made in this thread.

(10-14-2013 12:38 PM)scandibro Wrote:  

I could tell you a real sob story about how I pulled myself from living on a friends couch, with mentally ill relatives and a recently deceased mother, plus massive debt, to reasonable financial security, location independence and freedom within 3 years. .............

No doubt there are going to be experiences of guys that influence their perceptions, perspectives and ideologies, which also may cause you to resonate with most if not all of the points of OP's article (and not to resonate with my criticisms of the article). It seems to me that the existence of rags to riches stories, including yours, does not negate my earlier criticisms of OP's article.

I am open to get into more particulars on any of the points that I made earlier, if you want, within this thread or by PM if you believe the points go much beyond this thread.

(10-14-2013 12:05 PM)Beyond Borders Wrote:  

I think for the most part we're on the same page with these issues, even if it seems we disagree.

There may be some small areas in which we disagree or have different life experiences that inform our direction a little differently, but really we do not seem to be very far apart, overall.

[Beyond Borders]

(10-14-2013 12:38 PM)scandibro Wrote:  

I could tell you a real sob story about how I pulled myself from living on a friends couch, with mentally ill relatives and a recently deceased mother, plus massive debt, to reasonable financial security, location independence and freedom within 3 years. Working a job, studying and trying to start a business at the same time. Living in a 20sqm dump in a ghetto while doing so. But would you listen? I know what is possible. I also know that most people have no concept of temporary sacrifice or delaying of gratification and that is why they never 'make it' in whatever field they are in.

And while trying to make this reality come true for myself, I wanted to quit, really wanted to quite at least 10 times, and I can't count how many times people told me I was chasing a pipe dream and should just get a job or that it wasn't realistic.

I love these kind of stories, Scandibro. I've gone through similar times in my life and it was always my own decision to get moving that pulled me out of it and up to another level, though perhaps I haven't yet achieved the same level of success as you. It would be cool to see a data sheet, or just a solid post, about your struggle and the mindset and journey it took to take control and get where you wanted to be.

Personally, I feel like the forum could benefit from a lot more of this type of real-world experience concerning hardship and success.

[Andy_B]

I've always found these "millionaire mindset" type articles really lame, for a few reasons:

1. Most of the successful people I know don't read these articles, it seems like it's mostly struggling real estate agents and network marketers who are into this shit. Not that the audience determines the author's worth or anything, but it's a club I don't particularly want to join.

2. Sitting around thinking about how 'rich' people are different from 'normal' people is probably counterproductive in the long run. You're setting up the idea of the 'rich' as some magical group of superior overlords, which makes their status seem all the more unattainable. It seems like reading this kind of stuff will turn you into a fanboy, not a doer.

3. Related to point number 2, the article just overrates the fuck out of rich people. We're supposed to believe that rich people are all visionary, enterprising geniuses who follow their passion and get duly rewarded for it. Sorry, not accurate. For every Richard Branson, there's like 50 borderline-suicidal investment banking dudes. Then you've got the entrepreneurs who do somewhat interesting work, and tell themselves they 'love' it, but deep down are mostly just chasing for the cash (Silicon Valley in a nutshell). And then even after that, you've got the dudes who just got lucky in poker or whatever. Overall, rich businessmen aren't that impressive. They're better than the average joe but it's not on the same level as being a great artist or scientist.

4. The whole mindset of being obsessed with rich people and/or getting rich just kinda seems pathetic. It's like the American version of the old British obsession with the upper classes. Ultimately it's a symptom of a beta, status-obsessed mindset. Skip it and you'll do better.

[worldwidetraveler]

(10-18-2013 05:15 AM)Andy_B Wrote:  

I've always found these "millionaire mindset" type articles really lame, for a few reasons:

1. Most of the successful people I know don't read these articles, it seems like it's mostly struggling real estate agents and network marketers who are into this shit. Not that the audience determines the author's worth or anything, but it's a club I don't particularly want to join.

2. Sitting around thinking about how 'rich' people are different from 'normal' people is probably counterproductive in the long run. You're setting up the idea of the 'rich' as some magical group of superior overlords, which makes their status seem all the more unattainable. It seems like reading this kind of stuff will turn you into a fanboy, not a doer.

3. Related to point number 2, the article just overrates the fuck out of rich people. We're supposed to believe that rich people are all visionary, enterprising geniuses who follow their passion and get duly rewarded for it. Sorry, not accurate. For every Richard Branson, there's like 50 borderline-suicidal investment banking dudes. Then you've got the entrepreneurs who do somewhat interesting work, and tell themselves they 'love' it, but deep down are mostly just chasing for the cash (Silicon Valley in a nutshell). And then even after that, you've got the dudes who just got lucky in poker or whatever. Overall, rich businessmen aren't that impressive. They're better than the average joe but it's not on the same level as being a great artist or scientist.

4. The whole mindset of being obsessed with rich people and/or getting rich just kinda seems pathetic. It's like the American version of the old British obsession with the upper classes. Ultimately it's a symptom of a beta, status-obsessed mindset. Skip it and you'll do better.

Man, can I smell the hate in this post.

[Andy_B]

(10-18-2013 06:38 AM)worldwidetraveler Wrote:  

(10-18-2013 05:15 AM)Andy_B Wrote:  

I've always found these "millionaire mindset" type articles really lame, for a few reasons:

1. Most of the successful people I know don't read these articles, it seems like it's mostly struggling real estate agents and network marketers who are into this shit. Not that the audience determines the author's worth or anything, but it's a club I don't particularly want to join.

2. Sitting around thinking about how 'rich' people are different from 'normal' people is probably counterproductive in the long run. You're setting up the idea of the 'rich' as some magical group of superior overlords, which makes their status seem all the more unattainable. It seems like reading this kind of stuff will turn you into a fanboy, not a doer.

3. Related to point number 2, the article just overrates the fuck out of rich people. We're supposed to believe that rich people are all visionary, enterprising geniuses who follow their passion and get duly rewarded for it. Sorry, not accurate. For every Richard Branson, there's like 50 borderline-suicidal investment banking dudes. Then you've got the entrepreneurs who do somewhat interesting work, and tell themselves they 'love' it, but deep down are mostly just chasing for the cash (Silicon Valley in a nutshell). And then even after that, you've got the dudes who just got lucky in poker or whatever. Overall, rich businessmen aren't that impressive. They're better than the average joe but it's not on the same level as being a great artist or scientist.

4. The whole mindset of being obsessed with rich people and/or getting rich just kinda seems pathetic. It's like the American version of the old British obsession with the upper classes. Ultimately it's a symptom of a beta, status-obsessed mindset. Skip it and you'll do better.

Man, can I smell the hate in this post.

Sorry I said some obviously true stuff, bro.

[Nemencine]

(10-18-2013 06:38 AM)worldwidetraveler Wrote:  

Man, can I smell the hate in this post.

HAHAHAHAHA. HEHEHEHEHEHE. HOHOOHOHOHO.

or if you like rap .... check out LIL WAYNE'S.

One life to live. I guess learning a player's mindset is beta. hehehe. I have shit to do, man.

[worldwidetraveler]

(10-18-2013 08:01 AM)Andy_B Wrote:  

Sorry I said some obviously true stuff, bro.

It may be your reality but it surely isn't mine.

Quote:

1. Most of the successful people I know don't read these articles, it seems like it's mostly struggling real estate agents and network marketers who are into this shit. Not that the audience determines the author's worth or anything, but it's a club I don't particularly want to join.

No shit sherlock. These articles are not written to let rich people know what they are doing correctly. It would be rather stupid to tell people, "hey read this because this is what you are doing. " It is written for people who are not as successful as they would like to be.

Quote:

2. Sitting around thinking about how 'rich' people are different from 'normal' people is probably counterproductive in the long run. You're setting up the idea of the 'rich' as some magical group of superior overlords, which makes their status seem all the more unattainable. It seems like reading this kind of stuff will turn you into a fanboy, not a doer.

Really? People are just sitting around doing nothing but only thinking about rich people now? Reading one article makes you a fanboy? You really don't see the lameness in that type of thinking?

Quote:

3. Related to point number 2, the article just overrates the fuck out of rich people. We're supposed to believe that rich people are all visionary, enterprising geniuses who follow their passion and get duly rewarded for it. Sorry, not accurate. For every Richard Branson, there's like 50 borderline-suicidal investment banking dudes. Then you've got the entrepreneurs who do somewhat interesting work, and tell themselves they 'love' it, but deep down are mostly just chasing for the cash (Silicon Valley in a nutshell). And then even after that, you've got the dudes who just got lucky in poker or whatever. Overall, rich businessmen aren't that impressive. They're better than the average joe but it's not on the same level as being a great artist or scientist.

Who said they were better than anyone else? Me thinks you are showing some insecurities. That is like saying people who look to Roosh for advice is a fanboy because they want to learn what he can teach.

Quote:

4. The whole mindset of being obsessed with rich people and/or getting rich just kinda seems pathetic. It's like the American version of the old British obsession with the upper classes. Ultimately it's a symptom of a beta, status-obsessed mindset. Skip it and you'll do better

Oh boy, now we are pulling out the big guns. People who want to live a good lifestyle are beta status-obsessed people.

Yeah, hater is what comes to mind. Certainly not my reality thank god.

[Andy_B]

(10-18-2013 08:20 AM)worldwidetraveler Wrote:  

Really? People are just sitting around doing nothing but only thinking about rich people now? Reading one article makes you a fanboy? You really don't see the lameness in that type of thinking?

My point is that this article puts rich people on a pedestal; that the author himself is showing a fanboy, worshipful mindset.

I'm not saying that anybody who reads the article is a fanboy of the author. I'm saying that this article doesn't tell you how to do squat, instead it just paints this overly admiring fantasy about the way rich people think. I've known plenty of rich people in my life, and I can tell you the article gives them way too much credit.

If you want to spend time psychologically gratifying yourself by hero-worshipping rich dudes, that's totally cool. I'm not even knocking it for a minute, some people do have lives they aren't totally satisfied with, and worshipping rich people can help them live vicariously and maybe escape some of their disatisfaction. Personally though, for me, when it comes to money, I prefer solid, workable, actionable advice that actually works. For me, business is ultimately about making money, not daydreaming about money. I realize I'm in the minority here though.

[worldwidetraveler]

(10-18-2013 08:52 AM)Andy_B Wrote:  

(10-18-2013 08:20 AM)worldwidetraveler Wrote:  

Really? People are just sitting around doing nothing but only thinking about rich people now? Reading one article makes you a fanboy? You really don't see the lameness in that type of thinking?

My point is that this article puts rich people on a pedestal; that the author himself is showing a fanboy, worshipful mindset.

I'm not saying that anybody who reads the article is a fanboy of the author. I'm saying that this article doesn't tell you how to do squat, instead it just paints this overly admiring fantasy about the way rich people think. I've known plenty of rich people in my life, and I can tell you the article gives them way too much credit.

If you want to spend time psychologically gratifying yourself by hero-worshipping rich dudes, that's totally cool. I'm not even knocking it for a minute, some people do have lives they aren't totally satisfied with, and worshipping rich people can help them live vicariously and maybe escape some of their disatisfaction. Personally though, for me, when it comes to money, I prefer solid, workable, actionable advice that actually works. For me, business is ultimately about making money, not daydreaming about money. I realize I'm in the minority here though.

Yes, that is all I do all day long. I sit around wondering what rich people are doing. I even pray to my billionaire poster. Of course, it isn't because I am well off, myself.